Insider Selling: Cullinan Therapeutics, Inc. (NASDAQ:CGEM) Insider Sells 3,489 Shares of Stock

Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Get Free Report) insider Jennifer Michaelson sold 3,489 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $12.52, for a total value of $43,682.28. Following the transaction, the insider now directly owns 104,453 shares in the company, valued at approximately $1,307,751.56. This represents a 3.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Jennifer Michaelson also recently made the following trade(s):

• On Tuesday, November 5th, Jennifer Michaelson sold 8,000 shares of Cullinan Therapeutics stock. The shares were sold at an average price of $15.64, for a total value of $125,120.00.

Cullinan Therapeutics Trading Up 0.4 %

CGEM traded up $0.05 during midday trading on Monday, hitting $11.80. 375,226 shares of the company were exchanged, compared to its average volume of 644,203. The company's 50 day simple moving average is $14.75 and its 200 day simple moving average is $17.00. The firm has a market capitalization of $687.09 million, a price-to-earnings ratio of -4.14 and a beta of -0.18. Cullinan Therapeutics, Inc. has a 1-year low of $8.02 and a 1-year high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.09. On average, equities analysts anticipate that Cullinan Therapeutics, Inc. will post -3.12 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. HC Wainwright reiterated a "buy" rating and issued a $28.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, October 16th. Wedbush reiterated an "outperform" rating and issued a $36.00 price target on shares of Cullinan Therapeutics in a report on Wednesday, September 18th. Finally, UBS Group assumed coverage on Cullinan Therapeutics in a report on Thursday, October 24th. They issued a "buy" rating and a $30.00 price target for the company. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Cullinan Therapeutics currently has a consensus rating of "Buy" and an average target price of $31.67.

Institutional Investors Weigh In On Cullinan Therapeutics

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in Cullinan Therapeutics by 23.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,208,421 shares of the company's stock valued at $20,233,000 after buying an additional 231,935 shares in the last quarter. Barclays PLC lifted its stake in Cullinan Therapeutics by 26.0% in the 3rd quarter. Barclays PLC now owns 248,614 shares of the company's stock valued at $4,161,000 after buying an additional 51,300 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its stake in Cullinan Therapeutics by 40.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 25,369 shares of the company's stock valued at $425,000 after buying an additional 7,343 shares in the last quarter. Wellington Management Group LLP lifted its stake in Cullinan Therapeutics by 47.1% in the 3rd quarter. Wellington Management Group LLP now owns 106,025 shares of the company's stock valued at $1,775,000 after buying an additional 33,927 shares in the last quarter. Finally, Sphera Funds Management LTD. purchased a new position in Cullinan Therapeutics in the 3rd quarter valued at about $3,111,000. 86.31% of the stock is owned by hedge funds and other institutional investors.

Cullinan Therapeutics Company Profile

Cullinan Therapeutics, Inc, a biopharmaceutical company, focuses on developing oncology therapies for cancer patients in the United States. The company's lead program comprises CLN-619, a monoclonal antibody that is in Phase I clinical trial for the treatment of solid tumors. Its development portfolio also includes CLN-049, a humanized bispecific antibody that is in Phase I clinical trial for the treatment of acute myeloid leukemia or myelodysplastic syndrome; CLN-418, a human bispecific immune activator that is in Phase 1 clinical trial for the treatment of multiple solid tumors; and Zipalertinib, a bioavailable small-molecule for treating patients with non-small cell lung cancer.

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